Gold Prices Surge Across Major Indian Cities
Current Gold and Silver Prices
On Saturday, May 17, gold enthusiasts will notice an increase in prices, with 24-carat gold reaching Rs 95,140 for every 10 grams. The 22-carat variant, favored by jewelers for its strength, is priced at Rs 87,210 for the same quantity.
According to market reports, the price of 24-carat gold has risen significantly, while silver has seen a decrease, now priced at Rs 96,900 per kilogram.
In major cities like Mumbai, Kolkata, Chennai, and Hyderabad, the cost for 10 grams of 24-carat gold remains consistent at Rs 95,140, whereas in Delhi, it is slightly higher at Rs 95,290.
For 22-carat gold, the price in Mumbai is Rs 87,210, matching the rates in Kolkata, Bengaluru, Chennai, and Hyderabad. In Delhi, this price is slightly elevated at Rs 87,360.
Silver prices are uniform in Delhi, Mumbai, and Kolkata at Rs 96,900 per kilogram, while in Chennai and Hyderabad, it is priced at Rs 1,07,900.
Gold and Silver Prices in Key Cities
| City |
Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) | Silver Price (Rs/kg) |
| Delhi | Rs 87,360 | Rs 95,290 | Rs 96,900 |
| Noida | Rs 87,360 | Rs 95,290 | Rs 96,900 |
| Lucknow | Rs 87,360 | Rs 95,290 | Rs 96,900 |
| Mumbai | Rs 87,210 | Rs 95,140 | Rs 96,900 |
| Bengaluru | Rs 87,210 | Rs 95,140 | Rs 96,900 |
| Chennai | Rs 87,210 | Rs 95,140 | Rs 1,07,900 |
| Pune | Rs 87,210 | Rs 95,140 | Rs 96,900 |
| Ahmedabad | Rs 87,260 | Rs 95,190 | Rs 96,900 |
| Kolkata | Rs 87,210 | Rs 95,140 | Rs 96,900 |
| Hyderabad | Rs 87,210 | Rs 95,140 | Rs 1,07,900 |
Factors Influencing Gold Prices in India
Gold prices in India are not solely determined by local demand and supply. Instead, they are heavily influenced by trading activities in global markets, particularly the London OTC spot market and the COMEX gold futures market.
Additionally, various factors such as international events, political developments, decisions made by central banks, and fluctuations in currency values can also impact the pricing of this precious metal.
How to Verify Gold Purity
To ensure the authenticity of gold, consider the following methods:
1. Look for a hallmark: Genuine 22-carat gold, also referred to as 916 gold, will have a hallmark indicating its purity.
2. Check for the BIS Standard Mark: Authentic jewelry should display a triangle with 'BIS' underneath, confirming its purity.
3. Conduct an acid test: Under professional supervision, an acid test can be performed using nitric acid to verify purity.
4. Color test: Pure gold retains its yellow hue and does not tarnish.